Revealed: Coast suburbs where buyers are making big moves
Latest data has revealed the best-selling suburbs for both houses and units and Gold Coast markets have made a big impact. SEE WHERE
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Surfers Paradise recorded more unit sales over the past three months than any other suburb in Queensland.
Latest data from InfoTrack revealed the state’s best-selling markets for houses and units over the second quarter of 2024, with the Gold Coast apartment market making a “big impact”.
The Property Market Update has four Glitter Strip suburbs among the top 10 for unit sales, with Surfers Paradise topping the list.
Southport came in at number three, Pimpama number eight, and Hope Island number nine.
PEXA’s Property Insights Report 2024, also released this week, confirmed Surfers Paradise’ status as a sales powerhouse.
The suburb placed sixth in Qld for residential sales settlements, with 2556 houses and units changing hands over the full financial year.
Meanwhile, Urbis research probing the new apartment sector specifically shows almost half of off-the-plan sales on the Gold Coast were in Surfers, led by a surge in development activity for the iconic beachside suburb over the past three years.
“Surfers Paradise has traditionally been one of the city’s primary apartment precincts and many of the developers there now continue to have a strong focus on the suburb and capacity to deliver,” Urbis senior consultant Lynda Campbell said.
Malaysian conglomerate MRCB’s $500m 26 Vista project has notched up more than $170m in sales over the 12 months following its launch early 2023, while Meriton is undertaking a development on Cypress Ave poised to be the second largest residential tower in Australia.
Urban Activation managing director Matt George, who is marketing 26 Vista, said local, interstate and overseas buyers were drawn to Surfers Paradise as “the best-connected beachfront suburb on the Gold Coast”.
But InfoTrack’s report showed home buyers were still choosing freestanding houses over units and expanding their search to regional areas to combat rising unaffordability.
Nearly 60 per cent of property buyers in Queensland over the last quarter purchased a house, with the top 10 suburbs notching up the highest number of these transactions all located outside the Brisbane metro area.
The Ipswich suburb of Redbank Plains has topped the list for house purchases.
The suburb located 34km from Brisbane CBD was popular for its relative affordability, appealing to buyers struggling with soaring property prices and higher interest rates resulting in reduced borrowing capacity, InfoTrack spokesperson Sandra Falzon said.
Pimpama was the only Gold Coast suburb ranked for house buys, taking out the fourth position.
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Moreton Bay also proved popular, with the suburb of Morayfield coming in at number two on the list, Caboolture at number five, and Narangba at number 10.
InfoTrack’s report shows the Townsville suburb of Kelso has entered the Top 10 for the very first time and sits at number nine. Kirwan, also located in Townsville, has made a consistent appearance in previous quarters, and comes in at number three.
Brisbane CBD and surrounds made up ground in the unit sector, with five metro suburbs featured among the top 10 for apartment sales — Brisbane City, Fortitude Valley, South Brisbane, Newstead and Nundah.
QLD TOP 10 SUBURBS - HOUSES
Redbank Plains
Morayfield
Kirwan
Pimpama
Caboolture
Buderim
Yarrabilba
Gracemere
Kelso
Narangba
QLD TOP 10 SUBURBS - UNITS
Surfers Paradise
Brisbane City
Southport
Fortitude Valley
South Brisbane
Maroochydore
Newstead
Pimpama
Hope Island
Nundah
*source: InfoTrack
Originally published as Revealed: Coast suburbs where buyers are making big moves
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